BTCUSD backtesting (Blue squares) looks like the steepest downchannel (red) had a failed exit, followed by successful exit. A strong rejection of the downchannel 2/3 (pictured in orange) but with weak momentum based on volume, indicating some low-bought profit taking and an underlying decrease in bearishness (my opinion). With more favorable news cycles or mild increase in volume might help to push the price point to the top of downchannel 3/3 (pictured in white). A large increase in volume would probably pull more speculative interest than would currently be "healthy"... but this is crypto.
*Vdub Sniper does have a sell triggered* but that's not gospel
Seems about even out there with people calling regular or inverted head and shoulders, and lots of people citing DOJI / Stars, etc. so I'm guessing it stays fairly sideways for the short term. We all make the market, so those calling for 4k, 2k, whatever, will shriek and shill their doom and gloom, but what makes their predictions possible is collective PANIC. What makes it possible for the correction to end by April is the magnitude of increased numbers of players in the market, and the scarcity of BTC.
I'm hoping BTC hits the purple parallelogram, and it'll be well on its way out of downchannel 3/3.
Where you look determines what you see.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
*Vdub Sniper does have a sell triggered* but that's not gospel
Seems about even out there with people calling regular or inverted head and shoulders, and lots of people citing DOJI / Stars, etc. so I'm guessing it stays fairly sideways for the short term. We all make the market, so those calling for 4k, 2k, whatever, will shriek and shill their doom and gloom, but what makes their predictions possible is collective PANIC. What makes it possible for the correction to end by April is the magnitude of increased numbers of players in the market, and the scarcity of BTC.
I'm hoping BTC hits the purple parallelogram, and it'll be well on its way out of downchannel 3/3.
Where you look determines what you see.
* NOT A PRO * DYOR * TAKE YOUR OWN ADVICE *
